Nanshan Aluminium International Holdings Limited (HK:2610)
:2610
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Nanshan Aluminium International Holdings Limited
(2610)
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Rating:75Outperform
Price Target:
HK$73.00
▲(47.00% Upside)
Action:ReiteratedDate:01/31/26
The score is driven primarily by strong financial strength and profitability (near-zero leverage and sharply improved margins), partially offset by weak cash-flow quality and inconsistent free cash flow. Technicals are supportive with a strong uptrend and positive momentum, while valuation is harder to assess due to the missing P/E and only a modest dividend yield.
Positive Factors
High Return on Equity
A sharp rise in ROE to ~32% indicates the company is converting equity into profits very effectively, reflecting strong margins and operational leverage. Persistently high ROE supports sustainable shareholder returns and signals competitive advantage if margins are maintained.
Negative Factors
Weak Cash Conversion
Low cash conversion undermines earnings quality:Profitability on paper may not translate to cash for capex, debt servicing, or dividends. Persistent shortfalls constrain reinvestment and raise reliance on working-capital management, increasing long-term operational and financing risk.
Read all positive and negative factors
Positive Factors
Negative Factors
High Return on Equity
A sharp rise in ROE to ~32% indicates the company is converting equity into profits very effectively, reflecting strong margins and operational leverage. Persistently high ROE supports sustainable shareholder returns and signals competitive advantage if margins are maintained.
Read all positive factors
Nanshan Aluminium International Holdings Limited (2610) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$32.45B
Dividend Yield1.46%
Average Volume (3M)1.06M
Price to Earnings (P/E)8.6
Beta (1Y)0.26
Revenue GrowthN/A
EPS GrowthN/A
CountryHK
Employees3,282
SectorBasic Materials
Sector Strength58
IndustryAluminum
Share Statistics
EPS (TTM)N/A
Shares Outstanding620,435,200
10 Day Avg. Volume1,204,770
30 Day Avg. Volume1,063,610
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)1.51
Price to Sales (P/S)1.87
P/FCF Ratio88.35
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$77.97Price Target Upside57.01% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering2
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Nanshan Aluminium International Holdings Limited Business Overview & Revenue Model
Company Description
Nanshan Aluminium International Holdings Limited, an investment holding company, engages in the production and sale of alumina in Southeast Asia. The company offers alumina, including aluminium hydroxide. It also engages in management consultation...
How the Company Makes Money
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Nanshan Aluminium International Holdings Limited Financial Statement Overview
Summary
Income Statement
86
Very Positive
Balance Sheet
93
Very Positive
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.19B | 1.02B | 677.78M | 466.78M | 172.84M |
| Gross Profit | 641.92M | 516.69M | 197.67M | 112.07M | 44.80M |
| EBITDA | 680.26M | 557.55M | 192.23M | 147.66M | 64.79M |
| Net Income | 539.33M | 401.81M | 122.67M | 67.69M | 28.46M |
Balance Sheet | |||||
| Total Assets | 2.08B | 1.72B | 1.44B | 1.28B | 1.20B |
| Cash, Cash Equivalents and Short-Term Investments | 539.95M | 454.15M | 254.86M | 230.92M | 228.43M |
| Total Debt | 146.00K | 214.00K | 0.00 | 0.00 | 0.00 |
| Total Liabilities | 235.54M | 426.28M | 168.32M | 286.61M | 196.92M |
| Stockholders Equity | 1.80B | 1.26B | 918.80M | 720.87M | 730.13M |
Cash Flow | |||||
| Free Cash Flow | 204.01M | 21.63M | 23.47M | 12.67M | -146.19M |
| Operating Cash Flow | 647.90M | 96.27M | 96.27M | 163.04M | -8.71M |
| Investing Cash Flow | -260.48M | -74.18M | -74.18M | -150.37M | -137.48M |
| Financing Cash Flow | 59.88M | 5.13M | 5.13M | -383.00K | 159.19M |
Nanshan Aluminium International Holdings Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | HK$344.27B | 12.62 | 24.18% | 5.10% | 15.38% | 41.07% | |
75 Outperform | HK$32.45B | 8.63 | 35.67% | 1.46% | ― | ― | |
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
58 Neutral | HK$3.18B | 4.60 | 12.16% | 8.68% | 10.71% | -22.12% | |
48 Neutral | HK$152.32M | -2.77 | -0.58% | ― | -26.79% | -112.82% |
* Basic Materials Sector Average
HK:2610
Nanshan Aluminium International Holdings Limited
52.30
27.49
110.80%
ALMMF
Aluminum of China
1.34
0.73
119.67%
DE:CGP
Chongqing Iron & Steel Co., Ltd. Class H
0.12
0.03
36.26%
HK:0098
Xingfa Aluminium Holdings Ltd.
7.55
0.09
1.21%
HK:1378
China Hongqiao Group Ltd.
34.50
19.57
131.08%
HK:2078
PanAsialum Holdings Co. Ltd.
0.13
>-0.01
-2.31%
Nanshan Aluminium International Holdings Limited Corporate Events
Nanshan Aluminium Sets March 2026 Board Meeting to Approve 2025 Results and Consider Dividend
Mar 9, 2026
Nanshan Aluminium International Holdings Limited has scheduled a board meeting for 26 March 2026 to review and approve the Group’s annual results for the year ended 31 December 2025 and to authorize their publication. The board will also con...
Nanshan Aluminium Flags Investor Caution on Press Metal’s Unaudited 2025 Results
Feb 26, 2026
Nanshan Aluminium International Holdings disclosed inside information that its substantial shareholder, Press Metal Aluminium Holdings, has released unaudited results for 2025 showing a significant share of profit from associates, with the group c...
Nanshan Aluminium Raises HK$1.99 Billion Through Share Placing and Top-Up Subscription
Jan 30, 2026
Nanshan Aluminium International Holdings Limited has completed a placing of 31 million existing shares and a top-up subscription of 31 million new shares under its general mandate, with the placing conducted on a best-effort basis to at least six ...
Nanshan Aluminium Raises Nearly HK$2 Billion via Share Placing and Top-Up Subscription
Jan 22, 2026
Nanshan Aluminium International Holdings Limited has entered into a placing and top-up subscription agreement under its general mandate, whereby an existing shareholder (the Vendor) will place 31 million existing shares at HK$64.50 per share and t...
Nanshan Aluminium Plans Major Electrolytic Expansion in Indonesia to Deepen Integration and Boost Growth
Jan 19, 2026
Nanshan Aluminium International Holdings Limited has outlined a major expansion of its electrolytic aluminium business to strengthen competitiveness, enhance industrial-chain integration and drive sustainable growth. The Group plans to start prepa...
Nanshan Aluminium Doubles Alumina Capacity to Four Million Tons in Southeast Asia
Dec 22, 2025
Nanshan Aluminium International Holdings Limited has completed the ramp-up of its New Alumina Production Project in Southeast Asia, bringing the second one million tons of annual alumina capacity into operation on 20 December 2025 after the first ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
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